Historic Nob Hill Hotel Acquired by Local Magnate Following Closure, Default During Covid

<https://sfstandard.com/business/historic-nob-hill-hotel-acquired-by-
local-magnate-following-closure-default-during-covid/>

San Francisco businessman Greg Flynn is partnering with major hospitality 
management company Highgate to purchase the shuttered Huntington Hotel in 
Nob Hill, aiming to restore and reopen the historic property in 2025.

The 12-story, 135-room Huntington Hotel closed its doors during the 
pandemic and never reopened, with former owner Woodridge Capital 
defaulting on the property’s $56.2 million mortgage and lender Deutsche 
Bank AG threatening foreclosure.

Woodbridge purchased the hotel for $87 million from Grace International 
back in 2018.

Among the renovations planned by Flynn and Highgate are updates to public 
areas and guest rooms and upgrades to the hotel’s Big 4 restaurant and 
spa. 

The new owners said they were attracted to the property because of the 
hotel’s large average room size and high proportion of suites, in addition 
to its location, which offers panoramic views of the city. 

“Being a San Francisco native and current resident, I am deeply committed 
to this city,” Flynn said in a statement. “The opportunity to contribute 
to its renaissance through investment in one of its true treasures is a 
privilege, and I am committed to making sure that it is done to 
perfection.”

Originally built in 1924 and named after Collis Potter Huntington, one of 
the Big Four railroad magnates of the Old West, the hotel played host to 
numerous luminaries over its history. 

Flynn, the owner of Flynn Holdings, has two primary business lines, 
including a restaurant group that ranks as the largest franchise owner in 
the country, with 2,300 restaurants across 44 states. His company’s 
commercial real estate and hospitality arm owns 115 hotels across 29 
states, including luxury resorts in Cabo San Lucas, Napa Valley and 
Telluride. 

Last November, Flynn announced a joint venture with investment firm Värde 
Partners to acquire 80% ownership in a $1.1 billion portfolio of 89 select 
service hotels across the U.S.

New York-based Highgate has a total of 560 hotels in its network with 
90,000 rooms, but the Huntington Hotel is part of the company’s growing 
luxury and lifestyle division, which includes over 7,500 rooms.

The company took over the Park Central Hotel and reopened it last year as 
the Hyatt Regency San Francisco Downtown SoMa after a $70 million 
renovation.

“Under our stewardship, The Huntington will reclaim its mantle as an 
indispensable component of the San Francisco community, through a 
revitalization project that will celebrate its heritage while making 
significant upgrades to meet the expectations of today’s guests,” Highgate 
CEO Arash Azarbarzin said in a statement.


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